According to BBC, the Yemeni militant group known as the Houthis claimed to have carried out missile attacks on Riyadh, the capital of Saudi Arabia, as well as on “energy sites” on Saudi Arabia’s west coast, which borders the Red Sea. The attacks, one analyst warned, could raise global oil prices — which have climbed significantly in recent days — even further.
…could raise global oil prices.
That’s the “disaster”.
This article understates the severity of the situation. Oil & natural gas prices won’t merely rise, but skyrocket, and some won’t be able to get them for love or money; the drop in supply will be massive. This will in turn create shortages of almost everything, including food, and not only because of transportation & farming fuel costs. Natural gas is a major component in creating fertilizer.
